1poorguy: "I'm trying to do some digging. Someone recently told 1poorlady that if 1poorkid has any cash in her savings that it will affect her chances for scholarships and other aid. I would think they would look at ME (and 1poorlady) on the assumption that we would be supporting her as much as we could."

No expert, but need based aid willa lso look at the student's assets.

See, e.g.:

http://www.finaid.org/calculators/finaidestimate.phtml

http://ifap.ed.gov/efcformulaguide/attachments/082511EFCForm...

You can also Google federal methodology, EFC, and/or EFC calculation

Not sure why you beleive that student's assets would be exempt?

Regards, JAFO